All Businesses Affected By New Tax Acts
The American Jobs Creation Act of 2004 made significant changes to how businesses are taxed. In addition, the Working Families Tax Act extended a number of expiring tax breaks for businesses of all kinds. The Energy Policy Act of 2005 offers significant incentives to businesses who invest in energy efficient improvements and equipment.
How Should You Set Up Your New Business?
When you start a business, you have many choices to make. One key decision is choosing the form of business entity you will operate under. For starters, you can set up your business as a Sole Proprietorship, C-Corporation, S-Corporation, LLP (Limited Liability Partnership) or an LLC (Limited Liability Company).
Our Top 10 Tax Tips
Every year, Congress makes changes in the tax laws, so it's wise to consider how your tax planning will be affected. Here are our Top 10 individual tax planning tips for this year.
What's the "Right Amount" of Compensation for an S Corporation Shareholder/Employee?
The S corporation has been used by small business owners to avoid payroll taxes, and the IRS knows it. Here is a case that describes how a CPA got into trouble with his own S corporation--and how you can avoid the mistakes that were made.
The Home Office Deduction: Know the Do's and Don'ts
The rules regarding the home office deduction have changed a lot over the years
Help With Education Costs
Virtually all taxpayers can now get help to pay for education costs.
Sharing Your Stock Market Losses With Uncle Sam
Uncle Sam is always happy to tax you when you make money. But what happens to your tax situation when you experience losses? Not every investment will be a winner, so learning how to take advantage of the tax treatment of capital losses can be helpful.
Partial Exclusion of Gain Ð Early Sale of Residence
Can you exclude any part of the gain from sale of your principal residence if you don't live in it for at least two years? Yes, and here is a summary of special rules that apply to shortened periods of occupancy.
Check Your Tax Refund All Tax Season Long
There is a very helpful feature on this online office that will help you this tax season.
Sweeping Tax Acts Extend Benefits to Individual Taxpayers
For individuals, important new tax legislation offers lower tax rates, tax relief for dividends, capital gains, and much more.
Gain Maximum Benefit From Education Tax Credits
The tax law includes a number of tax benefits to help low and middle-income families and students pay for post-secondary education.
Use a Loss to Your Best Advantage.
The Net Operating Loss rules, including carrybacks and carryforwards, are very important and often misunderstood.
IRS Approves Self-Directed Medical Plan.
The IRS has approved an important self-directed medical benefit plan that both employers and employees should know about.
Structure Business Expense Reimbursements to Avoid AMT
Every year, the AMT continues to be a bigger problem for more and more middle income taxpayers. Here is one way to structure business expense reimbursement plans to avoid the AMT trap.
Your 2003 Child Tax Credit Check
Thanks to the 2003 Tax Act, if you have kids, you may have received checks for up to $400 per qualifying child in 2003. Here are the details you need to know.